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The US dollar has fluctuated within a narrow sliding range in the Asian session to resume its rally since its highest since January 9 for the sixth session in seven sessions against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of data Friday's economic outlook by the US economy, the world's largest economy.
At 5:46 GMT, the US dollar against the Japanese yen was down 0.12% to 111.10 from the opening level at 111.23 after the pair hit a low of 110, 92. At 111.25.
We followed the annual reading of the Japanese consumer price index of the Japanese economy, which showed an accelerated growth of 0.8% compared to the previous reading of June and the expectations of 0.7%. Fresh and energy growth accelerated to 0.5% compared to the previous year's reading and expectations at 0.4%.
After hours of reporting, it is unlikely that monetary policy makers will submit monetary policy adjustments before the October meeting, although the side effects of facilitation are worrisome. Monetary policy and the possibility of adjustment of monetary policy at the next meeting of the Bank of Japan next week, but the Bank of Japan will not do this move.
According to some reports, the Bank of Japan could make monetary policy adjustments before the end of the month and that the monetary authorities of the Bank of Japan could adjust purchases of government bonds and index funds to absorb market volatility. The Bank of Japan can make decisions to ensure the viability of monetary policy and not to start a monetary tightening with the adjustment of the objectives of interest. According to Reuters, the Bank of Japan's monetary policy talks at the end of the month could reflect the work of the Bank of Japan's monetary policy makers to maintain the size of the monetary easing program and the decision to Bank of Japan The outlook is expected to reduce the outlook for inflationary pressures in the world's third largest economy.
On the other hand, the markets are currently banking on a preliminary reading of the GDP of the US economy, which could reflect the world's largest economy 4.2% in the second quarter versus 2.0% in the second quarter. first quarter and could indicate a preliminary reading of GDP Gross price growth in the last quarter accelerated growth to 2.3% from 2.2% in the first quarter.
Investors are also looking for a reading of personal expenses, which could reflect an acceleration of growth to 3.1% vs. 0.9% in the first quarter, while the initial reading of basic personal expenses could slow down to 2%, 2% vs. 2.3% The first, before the publication of the latest reading of the University of Michigan Consumer Confidence Index for the current month, which could reflect the stability of the width at 97.1.
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